East Africa Metals Inc.
EAM.V
Toronto Stock Exchange Ventures0.09
CAD
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East Africa Metals Inc.
EAM.V
(Toronto Stock Exchange Ventures)
Recent
price
0.09
P/E
ratio
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div
yld
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ROIC.AI
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- Business
- East Africa Metals Inc. (TSXV:EAM) is a Vancouver-based mineral exploration company founded in 2012 that focuses on the identification, acquisition, exploration, development, and potential sale of gold, copper, silver, and zinc properties in Ethiopia and Tanzania. The company operates as a project generator with principal assets including a 70% interest in the Harvest polymetallic volcanogenic massive sulfide (VMS) property featuring the Terakimti gold heap leach project in Ethiopia's Tigray Region; a 30% net profits interest in the Adyabo gold-copper property encompassing the Mato Bula and Da Tambuk deposits, where Tibet Huayu Mining Co. Ltd. handles development and operations following an August 2019 agreement covering US$54-million and US$34-million in construction costs respectively; and a 30% net streaming interest in the Tanzanian Handeni property's Magambazi gold deposit, which holds indicated resources of 721,300 ounces and inferred resources of 292,400 ounces across two mining licenses totaling 9.9 square kilometers plus contiguous prospecting licenses covering 83.5 square kilometers. These projects collectively support combined Ethiopian gold resources of 915,000 ounces indicated and 977,000 ounces inferred, targeting junior mining investors and strategic partners in East African base and precious metals sectors. In recent developments, the company signed a binding memorandum of understanding in August 2025 with Ubora Minerals Company Limited, a subsidiary of Anchises Capital Precious Metal Fund LLC, for Ubora to acquire and develop the Magambazi project following Tanzanian government mediation over prior operator non-compliance; the deal includes a US$1.0 million cash payment to East Africa Metals, a 4% net smelter returns royalty, and a commitment to 40,000 ounces annual gold production within 48 months of approvals, while Ubora holds an 18.66% equity stake in the company.